Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPANAnd she always has so much fun doing it. We make a good team.
More Alan Greenspan Quotes
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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All taxes are a drag on economic growth. It’s only a question of degree.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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Gold still represents the ultimate form of payment in the world.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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The Iraq War is largely about oil.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
ALAN GREENSPAN -
I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN